WASHINGTON (dpa-AFX) - Valero Energy Corp. (VLO) announced earnings for third quarter that decreased from last year but beat the Street estimates.
The company's earnings totaled $364 million, or $1.14 per share. This compares with $2.622 billion, or $7.49 per share, in last year's third quarter.
Excluding items, Valero Energy Corp. reported adjusted earnings of $364 million or $1.14 per share for the period.
Analysts on average had expected the company to earn $0.98 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 14.4% to $32.876 billion from $38.404 billion last year.
Valero Energy Corp. earnings at a glance (GAAP) :
-Earnings (Q3): $364 Mln. vs. $2.622 Bln. last year. -EPS (Q3): $1.14 vs. $7.49 last year. -Revenue (Q3): $32.876 Bln vs. $38.404 Bln last year.
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